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2025-09-16 15:18:04
[The pound may extend its gains against the dollar due to the Bank of England's stance] Chris Turner of ING said in a report that the pound may extend its gains against the dollar because Tuesday's UK employment data is unlikely to change the Bank of England's cautious stance on interest rate cuts. The Bank of England did not pay much attention to the cooling job market at its August meeting, so this data is unlikely to have much impact. Unless the UK inflation data released on Wednesday is much lower than expected, the Bank of England's policy decision on Thursday should boost the pound. "Our year-end target price for the pound is $1.38, and this target may be achieved a little earlier than expected," Turner said. "The market expects the Bank of England to keep interest rates unchanged, while the Federal Reserve is expected to cut interest rates on Wednesday. According to data from the London Stock Exchange Group, the pound rose to a two-month high of $1.3633
